1996-09-11 - CC Packet - Laserfiche WebLink

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HOUSING AND REDEVELOPMENT AUTHORITY ANOKA COUNTY, MINNESOTA DATE: August 27, 1996 RESOLUTION #96-8 OFFERED BY: Trustee Langfeld RESOLUTION GIVING PRELIMINARY APPROVAL TO THE ISSUANCE OF UP TO $2,000,000 HOUSING DEVELOPMENT BONDS FOR THE PURPOSE OF FINANCING A HOUSING PROJECT IN THE CITY OF CENTERVILLE, MINNESOTA WHEREAS, the Anoka County Housing and Redevelopment Authority (the "HRA ") is authorized by Minnesota Statutes, Sections 469.001 to 469.047 (the "Act"), to own and operate housing development projects and to issue its obligations for the purpose of financing housing development projects; and, WHEREAS, the HRA and the City of Centerville, Minnesota (the "City "), intend to enter into a Joint Powers Agreement providing for the development, construction and operation of a senior citizen housing project of up to 20 units (the "Project ") in the City of Centerville, Minnesota; and, WHEREAS, pursuant to the Act and the Joint Powers Agreement, the HRA will provide the financing for the Project: NOW, THEREFORE, BE IT RESOLVED by the Board of Trustees of the Anoka County Housing and Redevelopment Authority as follows: Section 1 . The HRA hereby gives preliminary approval to the issuance of its housing development bonds in the approximate principal amount of up to $2,000,000 pursuant to Minnesota Statutes, Section 469.034, subdivision 2, to be secured by the general obligation pledge of the City of Centerville, Minnesota, or the revenues of the Project, or both, for the purpose of financing the Project in the City of Centerville, Minnesota, subject to final approval by this Board of Trustees of the terms of the bonds, and to compliance with the terms and conditions of applicable law, and to final agreement among the HRA, the City and the initial purchaser of the bonds as to the terms and conditions of the financing and operation of the Project. Section 2 . The HRA hereby states its intention to reimburse any expenditures made, with respect to the Project Drior to the issuance of the bonds, with proceeds of the bonds when issued.